v3.21.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
1 Months Ended 2 Months Ended 3 Months Ended 4 Months Ended 5 Months Ended 7 Months Ended 9 Months Ended 12 Months Ended
Jun. 12, 2021
Aug. 28, 2020
Jun. 11, 2021
Aug. 27, 2020
Jul. 31, 2021
Jul. 31, 2021
Oct. 31, 2020
Oct. 31, 2021
Apr. 30, 2021
Oct. 31, 2020
Apr. 30, 2020
Jun. 11, 2021
Oct. 31, 2021
Aug. 27, 2020
Oct. 31, 2020
Jan. 31, 2021
Jan. 31, 2020
Cash flows from operating activities:                                  
Net (loss) income             $ (38,714)         $ (49,264) $ (54,708) $ 2,764,012      
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:                                  
Share-based compensation                         9,034        
Depreciation and amortization             1,509         3,572 4,309 5,864      
Amortization of intangible assets       $ 4,230     15,890 $ 37,064       50,902 57,087 34,378      
Change in bad debt reserve             186         (174) (668) 24      
(Benefit from) provision for income taxes - non-cash             (8,214)         (5,886) (9,937) 66,234      
Non-cash interest expense             143         487 913 2,407      
Impairment of intangible assets                           332,376      
Fair value adjustment to warrants             (2,900) 36,838       (900) 19,723        
Right-of-use asset             1,245         748 3,473 1,594      
Non-cash reorganization items, net                           (3,353,326)      
Changes in current assets and liabilities, net of effects from acquisitions:                                  
Accounts receivable             (24,396)         88,622 (8,446) 116,478      
Prepaid expenses and other current assets             (4,017)         1,828 (5,002) 66      
Accounts payable             3,776         (4,866) (1,636) (7,909)      
Accrued expenses, including long-term             11,888         (18,592) 13,962 145,816      
Lease liability             (1,510)         (1,301) (4,046) (2,332)      
Deferred revenue             47,987         (31,365) (24,599) (101,765)      
Net cash (used in) provided by operating activities             2,873         33,811 (541) 3,917      
Cash flows from investing activities:                                  
Purchase of property and equipment             (1,340)         (641) (4,351) (3,105)      
Internally developed software - capitalized costs             (908)         (2,350) (2,293) (3,819)      
Acquisition of Skillsoft, net of cash received                         (156,926)        
Acquisition of Global Knowledge, net of cash received                         (386,035)        
Acquisition of Pluma, net of cash received                         (18,646)        
Net cash used in investing activities             (2,248)         (2,991) (568,251) (6,924)      
Cash flows from financing activities:                                  
Borrowings under revolving line of credit, net of repayments                           19,500      
Borrowings under DIP Facility                           60,000      
Proceeds from Exit Facility borrowing                           50,000      
Debt issuance costs associated with DIP and Exit Facilities                           (19,524)      
Shares repurchased for tax withholding upon vesting of restricted stock-based awarded                         (614)        
Proceeds from equity investment (PIPE)                         530,000        
Proceeds from issuance of term loans, net of fees                         464,290        
Principal payments on capital lease obligation             (162)         (370) (407) (532)      
Proceeds from accounts receivable facility, net of borrowings             (28,909)           (23,198) (35,787)      
Proceeds from accounts receivable facility, net of borrowings                       16,577          
Repayments of First and Second Out loans                       (1,300) (605,591)        
Net cash provided by (used in) financing activities             (29,071)         14,907 364,480 73,657      
Effect of exchange rate changes on cash and cash equivalents             699         203 (820) (2,139)      
Net (decrease) increase in cash, cash equivalents and restricted cash             (27,747)         45,930 (205,132) 68,511      
Cash, cash equivalents and restricted cash, beginning of period $ 120,373 $ 102,315     $ 288,483 $ 120,373 102,315   $ 74,443   $ 33,804 74,443 120,373 33,804 $ 33,804 $ 33,804  
Cash, cash equivalents and restricted cash, end of period 288,483   $ 120,373 102,315     74,568 83,351   $ 74,568   120,373 83,351 102,315 74,568 74,443 $ 33,804
Supplemental disclosure of cash flow information:                                  
Cash and cash equivalents     117,299 92,009     70,836 80,671   70,836   117,299 80,671 92,009 70,836 71,479  
Restricted cash     3,074 10,306     3,732 2,680   3,732   3,074 2,680 10,306 3,732    
Cash, cash equivalents and restricted cash, end of period $ 288,483   $ 120,373 $ 102,315     74,568 $ 83,351   $ 74,568   120,373 83,351 102,315 $ 74,568 $ 74,443 $ 33,804
Supplemental disclosure of cash flow information and non-cash investing and financing activities:                                  
Cash paid for interest                       16,439 5,030        
Cash paid for income taxes, net of refunds             560         1,161 1,505 913      
Unpaid capital expenditures             $ 140         $ 39 123 1,039      
Note issued to parent entity for paid in kind interest                           160,000      
Lease liabilities arising from right-of-use assets and tenant improvements recognized upon adoption of new accounting standard                           $ 19,415      
Share issued in connection with business combinations                         306,375        
PIPE subscription liability and warrants reclassified to equity                         134,286        
Debt issued in connection with business combinations                         90,000        
Warrants issued in connection with business combinations                         $ 14,000        
Financial Designation, Predecessor and Successor [Fixed List] Successor Predecessor Predecessor Predecessor Successor Successor Predecessor Successor Predecessor Predecessor Predecessor Predecessor Successor Predecessor Predecessor Predecessor Predecessor

Source